Monotype Imaging (TYPE) Reaches New 52-Week High on Strong Earnings

Monotype Imaging Holdings Inc. (NASDAQ:TYPE)’s share price hit a new 52-week high during mid-day trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $26.38 and last traded at $23.60, with a volume of 186800 shares. The stock had previously closed at $23.60.

The software maker reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.31. Monotype Imaging had a return on equity of 2.47% and a net margin of 0.06%. The company had revenue of $65.02 million during the quarter, compared to the consensus estimate of $62.45 million. During the same period last year, the business earned $0.12 EPS. The business’s quarterly revenue was up 23.5% on a year-over-year basis.

A number of brokerages have recently commented on TYPE. JPMorgan Chase & Co. lowered Monotype Imaging from a “neutral” rating to an “underweight” rating and set a $24.00 price objective on the stock. in a report on Tuesday, December 12th. Zacks Investment Research lowered Monotype Imaging from a “hold” rating to a “sell” rating in a report on Saturday, February 10th. ValuEngine lowered Monotype Imaging from a “hold” rating to a “sell” rating in a report on Thursday, February 8th. B. Riley increased their price objective on Monotype Imaging from $20.00 to $24.50 and gave the company a “neutral” rating in a report on Wednesday, November 1st. Finally, BidaskClub raised Monotype Imaging from a “sell” rating to a “hold” rating in a report on Monday, February 5th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Sell” and a consensus price target of $23.17.

In other news, VP Janet M. Dunlap sold 8,063 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $25.00, for a total transaction of $201,575.00. Following the transaction, the vice president now owns 92,913 shares of the company’s stock, valued at approximately $2,322,825. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Janet M. Dunlap sold 2,000 shares of the stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $25.00, for a total value of $50,000.00. Following the transaction, the chief accounting officer now directly owns 90,008 shares in the company, valued at approximately $2,250,200. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. MetLife Investment Advisors LLC acquired a new stake in Monotype Imaging in the 4th quarter valued at approximately $448,000. Millennium Management LLC acquired a new stake in Monotype Imaging in the 4th quarter valued at approximately $1,026,000. Fondren Management LP grew its holdings in Monotype Imaging by 9.8% in the 4th quarter. Fondren Management LP now owns 851,137 shares of the software maker’s stock valued at $20,512,000 after buying an additional 75,830 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Monotype Imaging by 686.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 863,476 shares of the software maker’s stock valued at $20,810,000 after buying an additional 753,637 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in Monotype Imaging by 17.9% in the 4th quarter. Deutsche Bank AG now owns 142,230 shares of the software maker’s stock valued at $3,425,000 after buying an additional 21,584 shares during the last quarter. 94.25% of the stock is currently owned by institutional investors and hedge funds.

The company has a market capitalization of $984.93, a price-to-earnings ratio of 124.21, a PEG ratio of 3.50 and a beta of 0.88. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.43 and a current ratio of 2.43.

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About Monotype Imaging

Monotype Imaging Holdings Inc is engaged in the development, marketing and licensing of technologies and fonts. The Company empowers expression and engagement for creatives, designers, engineers and marketers. It organizes its business operations into two areas: creative professionals and original equipment manufacturer (OEM).

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